Advance Auto Parts price target raised to $65 from $60 at BMO Capital

BMO Capital raised the firm’s price target on Advance Auto Parts (AAP) to $65 from $60 and keeps a Market Perform rating on the shares. The firm is positive on the company’s better-than-expected Q1 results, particularly its same-store sales of 3.5%, which topped consensus of 1.9%, the analyst tells investors in a research note. BMO adds, however, that despite the earnings beat Advance Auto’s 2026 guidance was maintained as management cited potential near-term demand variability given elevated gas prices.